Christmas…Ummm…New Year’s in July!

on July 5, 2022

Happy 4th of July! Although Christmas in July is trendy, I want to move one week forward. How are your New Year’s resolutions? Have you been successful, or have you given up in despair? If you’re like most people, your plans didn’t last long enough to see Valentine’s Day, let alone our nation’s birthday.

Don’t give up! I want you to reach your goals. I want you to pretend that July 1st is January 1st. Remember how ambitious you were? 2022 was going to be your year to succeed. It’s not too late! You still have six months to make significant progress toward your targets. If you’re feeling overwhelmed, I have some tips to help you get started. Of course, my suggestions involve helping you gain control of your finances, but the basic strategies will work with many projects.

  • Create concrete resolutions. Vague goals, “I want to save more money,” never give you a sense of accomplishment because you can’t tell when you have been successful. Instead, try to save a specific amount each month. It both holds you accountable and lets you celebrate.
  • Create reasonable resolutions. If you are saving nothing right now, you probably won’t be able to lay aside a large portion of your salary. Set your sights lower, and then commit to your aim.
  • Break large resolutions into smaller pieces. If you have an expensive goal for the year, try to accomplish 1/12 of it monthly.
  • Resolve to take full advantage of any employer contributions to your retirement account. If the employer matches your contributions, try to maximize the match.
  • Don’t give up. When people aren’t successful, they lose hope and stop trying. The best way to achieve your resolutions involves pretending every day is New Year’s Day.

Grill hot dogs, listen to patriotic music, and watch the fireworks. Then, tackle your financial goals like it’s New Year’s Day. It’s not too late to have a prosperous 2022!

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